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A old-new blog about random pursuits of a work-from-home mom.

Saturday, March 21, 2015

Open A Bank Account With One Valid ID

I've decided to post this since I've been receiving comments/ messages related to my previous posts about RCBC MyWallet as it's one of the most widely used method of verifying Paypal as well as transferring Paypal to bank and for Odesk LFT. However, it's been so stressful dealing with RCBC lately as it's really hard to get my information updated (updating mobile phone, resetting transaction password).

So I went out looking for some other alternatives and I chose  Security Bank which is quite a great alternative. The staff are friendly, and there's not too many people (actually, there were only 3 people in the bank when I went to the Rizal Street Branch in Cabanatuan). They don't make a fuss about getting 1x1 pictures and you could open a savings account with just one (1) valid ID. The best part is that you'll get the "Everyday Card" which is their ATM card with a MasterCard logo and you'll get this on the same day of your account opening. The whole process only took about 20 minutes (great, isn't it?).

This is good news for people who'd want to have a savings account but is being held back for the lack of at least 2 IDs. Please note that you'll have to prepare 5,000 PhP for the initial deposit (it's a bit too high compared with other banks though, but I think that it's just okay).  Other perks would be avoiding long queues and waiting time, being able to make transactions online and get alerts via SMS. Personally, I like the fact that I can activate my online account access through an ATM (just like BPI and BDO) and I don't have to contact their support to get this done.

I got the Easy Access account as I don't want a passbook. I've also enrolled my account for online access and activated it via ATM and I'm waiting for the activation until after 24 hours.

I guess this would just be for now as I'm still waiting for my online access to be activated. I'll be posting more about using the Everyday Card for verifying Paypal and for withdrawing funds from Paypal.

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